My client “Millie” (not her real name) came to me about ten years ago with her husband “John” (also not his real name). Millie and John were a lovely couple with three very successful children, all of whom resided out of state. Unfortunately, a few years after my initial meeting with Millie and John, John died unexpectedly, leaving Millie his widow. Although Millie was very saddened by the loss of her husband of 49 years, she fully intended to live her life as John would have wanted her to. She became involved in the community, volunteered at a local women’s shelter, and joined a support group for grieving spouses.
Her children were busy with their own lives, but always made a concerted effort to visit especially at holiday time. This past holiday, I received a call from Millie and Millie’s daughter, Debbie, who were concerned. Apparently, Millie was befriended by a gentleman, “Dirk” (this is not his real name), who was somewhat younger than her, who she met in her support group.
It appears that this person insinuated himself into Millie’s life during the absence of her children. At some point, he convinced Millie to sign a document, which was in actuality, a deed to her house, which purportedly conveyed Millie’s 100% interest in her home equally between Millie and Dirk. The Cook County Recorder of Deeds, noticing the deed change, forwarded a copy to Millie who was very confused by the document and didn’t remember signing it, although she recognized her signature. Millie was shocked that Dirk would try to do this to her.
After careful review of the document, I realized that this was an insufficient conveyance. Millie and John were smart enough to get their estate plan in place. They had a trust to protect their assets. The office supply store deed Dirk presented to Millie was clearly insufficient in light of the trust, and did not in-fact, legally convey the property. Therefore, Millie’s house was safe for Millie and her children. We reported Dirk to the authorities, and although Millie is heartbroken, she is relieved that Dirk didn’t take her for everything she had. She is also seriously contemplating a move to Arizona to be closer to Debbie.
This is just one reason why a living trust can be so valuable for a family and even more valuable for an elder looking to protect herself from potential elder abuse and financial exploitation. If you have a trust, feel free to contact our office for an Estate Planning Review; if you don’t have a trust, read further on our website about the different estate planning options which may be available to you.